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17 Uncommon Traits of Billionaires

What special traits do the billionaires of this world possess that others don’t? Is there any special skill or uncommon trait I must possess before I can become a billionaire? What trait propelled the school drop out billionaires to success? Were people like Bill Gates, Warren Buffett and Mark Zuckerberg born to be billionaires? Well, read on to find the answers you seek.

In this article, I will be revealing to you 17 uncommon traits of billionaires. So if it’s your dream to become a billionaire, then you might as well start developing these billionaire traits gradually. Without wasting much of your time, below are 17 uncommon traits of billionaires.

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

1.  Billionaires start small

Most self made billionaires were not born billionaires. They were born like every other human but they desired to be exceptional. Sometimes, most people believe that billionaires such as Bill Gates and Mark Zuckerberg emerged overnight to become billionaires. That’s definitely not true.

Most of the billionaires today were nobody’s sometime ago but they started small and kept at it. Bill Gates, Mark Zuckerberg, Michael Dell, Jerry Yang and David Filo, Larry Page and Sergey Brin started from the Dormitory of their various schools.

Jeff Bezos, Henry Ford and Steve Jobs started small in their garages. Ray Kroc started as a salesman; Larry Ellison started as a freelance programmer; Li Ka Shing also started small while Dhirubhai Ambani started as a petrol station attendant. The illustrations above prove that most billionaires had a humble beginning; they started small.

2.  They think Big

“I like thinking big. If you’re going to be thinking anything, you might as well think big.” – Donald Trump

Another uncommon trait of billionaires is that they think big. They refused to allow their creative imagination be hindered by race, age or background. Though they started from scratch; they dreamed big and worked towards that dream. They didn’t just emerge billionaires overnight; they desired it, they hungered for it and worked towards making that desire a reality.

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren Buffett

3. Billionaires take calculated risk

“To win big, you sometimes have to take big risks.” – Bill Gates

Most people abhor taking risk but billionaires know how to take calculated risk. Instead of shying away from taking risk; what billionaires do is to put up a strong risk management strategy and then go ahead to take that risk. Their ability to take calculated risk is the reason they emerged billionaires.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

4. They are competitive

“When somebody challenges you, fight back. Be brutal, be tough.” – Donald Trump

“And obviously from our own personal point of view, the principal challenge is a personal challenge.” – Richard Branson

The fourth trait of billionaires is competitiveness. Most people dread competition but billionaires thrive in competitive environments. They believe that competition brings out the best in them so they seek it out.

“You don’t have to be the biggest to beat the biggest.” – Henry Ross Perot

“The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.” – Henry Ford

“We have always had a pretty competitive ferocious battle with British Airways. It lasted about 14 years and we are very pleased to have survived it.” – Richard Branson

5. They are focused

“The wise man put all his eggs in one basket and watches the basket.” – Andrew Carnegie

Take a look at billionaires and you will observe they are focused in their dealings. They don’t try to do many things at once; they focus on one. When it comes to business; billionaires are focused. Bill Gates and Larry Ellison focused on software; Aliko Dangote, the richest black man in the world focused on commodities. Ray Kroc, Dave Thomas and Carl Linder focused on fast foods.

“Diversification is a protection against ignorance. It makes very little sense to those who know what they are doing.” – Warren Buffett

Warren Buffett, George Soros, John Templeton and Peter Lynch focused on stocks as their preferred investment vehicle. Donald Trump is focused on real estate. Michael Milken focused on junk bond and that’s why he was referred to as the junk bond king. Ralph Lauren and Giorgio Armani focused on fashion while Anita Roddick and Mary Kay Ash focused on beauty care (cosmetics).

Michael Dell and Ted Waitt focused on computers while John D. Rockefeller and J. Paul Getty focused on oil. Andrew Carnegie and Lakshmi Mittal focused on steel. Sam Walton, Philip Green, Ingvar Kamprad and J.C. Penny focused on retailing. Walt Disney, David Geffen, Martha Steward and Oprah Winfrey focused on entertainment while Henry Ford focused on automobiles. The list goes on and on.

“The men who have succeeded are men who have chosen one line and stuck to it.” – Andrew Carnegie

6.  They are driven by passion

“Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am.” – Aliko Dangote

Listen to billionaires speak and you will sense a kind of passion in them. Billionaires are passionate about their calling and they pursue this calling with vigor. It’s this passion in them that keeps them going; despite their wealth, their passion keeps them working for long hours.

“Without passion, you don’t have energy. Without energy, you have nothing.” – Warren Buffett

7. They are goal getters

“I intend to be, the richest man in the world.” – Howard Hughes

Billionaires are goal getters. They spend time to set goals that are high and challenging but realistic and attainable; and they don’t rest on their oars until their set goals are achieved. To them, life without goals set and achieved is life wasted.

“We must have a theme, a goal, a purpose in our lives. If you don’t know where you are aiming, you don’t have a goal. My goal is to live my life in such a way that when I die, someone can say, ‘she cared.” – Mary Kay Ash

“I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.” – Larry Ellison

“A good goal is like a strenuous exercise, it makes you stretch.” – Mary Kay Ash

8. They thrive on criticism

“Dare to risk public Criticism.” – Mary Kay Ash

I have never seen a billionaire that hasn’t at one time or the other been criticized. Bill Gates, John D. Rockefeller, Steve Jobs, Mark Zuckerberg, J. Paul Getty and other billionaires have been heavily criticized. Henry Ford was even called an ignorant man by some scholars.

“When you innovate, you’ve got to be prepared for people telling you that you are nuts.” – Larry Ellison

But billionaires don’t get weighed down by criticism; instead, they get inspired by criticism. Billionaires welcome criticism because they see criticism as a feedback to improve themselves.

“Never be ashamed! There’s some who will hold it against you, but they are not worth bothering with.” – J. K. Rowling

“Embrace bad news to learn where you need the most improvement.” – Bill Gates

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

9. They have strong self imposed standards

“I am stingy and I’m proud of the reputation.” – Ingvar Kamprad

Get close to a billionaire and you will see a strong willed individual with tough self imposed personal standard. Billionaires don’t compromise their standard; they stick to their self imposed standard no matter what it takes.

“Remain true to yourself and your philosophy.” – Giorgio Armani

“People say I am cheap, and I don’t mind if they do.” – Ingvar Kamprad

10. They believe in themselves

“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins

Strong self belief is an uncommon trait possessed by billionaires. Billionaires display a high level of self confidence. They have little belief in fate, they strongly believe in themselves and their ability to achieve their set goals. Billionaires take charge of their destiny; they don’t leave it to fate.

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember you can achieve.” – Mary Kay Ash

11. They are persistent

“Sheer persistence is the difference between success and failure.” – Donald Trump

Billionaires are tough and unyielding. They believe that when the going gets tough, the tough should get going.”  Billionaires are known for being persistent and tough; they press on even in the face of hardship and failure. Billionaires know that without persistence, nothing can be achieved.

“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

“When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure.” – Mary Kay Ash

12. They are committed

“I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

Unyielding commitment is another uncommon trait of billionaires. Despite acquiring tremendous wealth, billionaires remain committed to their call. An example of this uncommon display of commitment is that of Warren Buffett and Ingvar Kamprad; these two men have pledged commitment to their companies until death. What a tough commitment.

“It’s my job for Oracle, the number two software company in the world; to become the number one software company in the world. My job is to build better than the competition, sell those products in the marketplace and eventually supplant Microsoft and move from being number two to number one.” – Larry Ellison

13. They learn quickly from mistakes

“Sometimes when you innovate, you make mistakes. It’s best to admit them quickly and get on with improving your other innovations.” – Steve Jobs

Billionaires make mistakes, just like every other human and their mistakes sometimes lead to business failures but billionaires don’t get bugged down by mistakes; they don’t bow their head in defeat. Instead, they quickly acknowledge their business mistakes, correct them, learn from their failures and move on. They fail but they don’t quit. Instead, they get inspired by their failure and use their failure as a stepping stone to success.

“Failure is just a resting place. It is an opportunity to begin again more intelligently.” – Henry Ford

14. They thrive on pressure and uncertainty

“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty

Billionaires thrive on tension; they thrive on uncertainty. When the billionaires started the entrepreneurial process with nothing, there was no security for their initial investment or guarantee for success. Though they made it through the process; they still thrive on uncertainty despite their wealth.

When Bill Gates dropped out of school to build Microsoft; there was no guarantee of success. There was also no guarantee of success for other drop out billionaires such as Mark Zuckerberg, Michael Dell, Steve Jobs, Richard Branson, Larry Ellison and Li Ka Shing. Yet, they emerged successful.

“Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine and eminently unsatisfying.” – J. Paul Getty

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

15. They use money as a means to keep score

“I don’t make deals for the money. I’ve got enough much more than I’ll ever need. I do it to do it.” – Donald Trump

Billionaires are driven by passion; not money. They use the money acquired from their businesses as a landmark; a target and a sign to move on to other business challenges. Billionaires use money as a means to keep score; they are not driven by the quest to make money.

“Money was never a big motivation for me except as a way to keep score. The real excitement is playing the game.” – Donald Trump

“If only your goal is to become rich, you will never achieve it.” – John D. Rockefeller

“Being first is more important to me. I have so much money. Whatever money is, it’s just a method of keeping score now. I mean, I certainly don’t need more money.” – Larry Ellison

16. They are opportunists

“The way to make money is to buy when blood is running in the streets.” – John D. Rockefeller

Billionaires are opportunists. They are always on the look out for people’s problems because they always want to be the solution to people’s problems. Billionaires move in when others are moving out; they see opportunities where others see problems. Billionaires are like the ancient alchemists; who try to turn lead into gold. Billionaires will always attempt to turn problems into value; they believe in creating value out of nothing.

“Buy when everyone else is selling and hold when everyone else is buying. This is not merely a catchy slogan. It is the very essence of successful investments.” – J. Paul Getty

“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere.” – Orji Uzor Kalu

17. They use debt to their advantage

“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty

Debt is a double edged sword that can make or break you but billionaires have mastered the art of debt management. In fact, there is no billionaire that is free from debt. However, while others advocate staying away from debt; billionaires use debt as a financial leverage to get richer. While others use debts to acquire flashy liabilities such as cars, houses, etc; billionaires use to to invest and acquire income producing assets. The keyword here is “income producing.” To become rich in life and stay rich, you must be able to know the difference between good debt and bad debt, assets and liabilities, capital gain and cash flow, etc.

“Be careful when you take on debt. If you take on debt personally, make sure it is small. If you take on large debt, make sure someone else is paying for it.” – Rich Dad

“Financial leverage is the advantage the rich have over the poor and middle class.” – Rich Dad

75 Impeccable Business Advice from 39 Billionaires

Are you an entrepreneur or a small business owner? Are you seeking business advice that will help you start a business? Do you want to become a billionaire in your lifetime? Do you want to build a successful business and become a successful entrepreneur? Do you want to learn what it takes to make a million dollars and become a millionaire in less than a year? If your answer to any of these questions is yes, then read on.

Today, I will be sharing with you some small business advice from the billionaires. Some of these billionaires are drop out billionaires but they have one thing in common, they all built successful businesses. So if you are ready to learn, then sit back and read on as I share with you 75 impeccable advice from 39 billionaires.

  75 Impeccable Small Business Advice from 39 Billionaires

  • Richard Branson    – Virgin Group

1.            “As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me.” – Richard Branson

2.            “To be successful, you have to be out there, you have to hit the ground running, and if you have a good team around you and more than a fair share of luck, you might make something happen. But you certainly can’t guarantee it just by following someone else’s formula.” – Richard Branson

  • Ingvar Kamprad   – IKEA

3.            “Waste of resources is a mortal sin at IKEA.” – Ingvar Kamprad

4.            “Ten minutes are not just one-sixth of your hourly pay; ten minutes is a piece of yourself. Divide yourself into ten units and sacrifice as few of them as possible in meaningless activities. Most things still remain to be done.” – Ingvar Kamprad

  • Carlos Slim Helu   – Telmex Corporation

5.            “When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” – Carlos Slim Helu

  • Aliko Dangote    – Dangote Group

6.            “To succeed in business, you must build a brand and never destroy it. One competitive advantage I had when I ventured into manufacturing was my brand “Dangote,” which I diligently built in the course of my trading commodities.” – Aliko Dangote

7.            “Manufacture, don’t just trade. There is money in manufacturing even though it is capital intensive. To achieve a big breakthrough, I had to start manufacturing the same product I was trading on; which is commodities.” – Aliko Dangote

  • Oprah Winfrey – Harpo Studios Production

8.            “Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness.” – Oprah Winfrey

9.            “Follow your instincts, that’s where true wisdom manifest itself.” – Oprah Winfrey

  • Orji Uzor Kalu    – Slok Group

10.          “A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere” – Orji Uzor Kalu

11.          “A good businessman sees where others don’t see. What I see, you may not see. You cannot see because that is the secret of the business… the entire world is a big market waiting for anybody who knows the rules of the game.” – Orji Uzor Kalu

  • John D. Rockefeller    – Standard Oil

12.          “There’s no mystery in business success. If you do each day’s task successfully and stay faithfully within these natural operations of commercial laws which I talk so much about and keep your head clear, you will come out all right.” – John D. Rockefeller

13.          “The ability to deal with people is as purchasable as a commodity as sugar or coffee and I will pay more for that ability than for any other thing under the sun.” – John D. Rockefeller

  • Bill Gates   – Microsoft

14.          “The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose.” – Bill Gates

15.          You’ve got to give great tools to small teams. Pick good people, use small teams and give them great tools so that they are very productive in terms of what they are doing.” – Bill Gates

  • Larry Ellison – Oracle

16.          “If your cash is about to run out, you have to cut your cash flow. CEOs have to make those decisions and live with them however painful they may be. You have to act and act now; and act in the best interest of the company as a whole, even if it means that some people in the company who are your best friends have to work somewhere else.” – Larry Ellison

17.          “When you innovate, you’ve got to be prepared for people telling you that you are nuts.” – Larry Ellison

  • J. Paul Getty    – Getty Oil

18.          “The man who comes up with a means of doing or producing almost anything better, faster or more economically has his future and his fortune at his finger tips.” – J. Paul Getty

19.          “In times of rapid change, experience could be your worst enemy.” – J. Paul Getty

  • Warren Buffett  – Berkshire Hathaway

20.          “In the business world, the rear view is always clearer than the wind shield.” – Warren Buffett

21.          “Somebody once said that in looking to hire people, look for three qualities; Integrity, intelligence and energy. If they don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without the first, you really want them to be dumb and lazy.” – Warren Buffett

75 Impeccable Small Business Advice from 39 Billionaires

  • Henry Ford   – Ford Motor Company

22.          “The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.” – Henry Ford

23.          “A business absolutely devoted to service will have one worry about profits. They will be embarrassingly large.” – Henry Ford

  • Henry Ross Perot     – EDS

24.          “Business is not just doing deals; business is having great products, doing great engineering and providing tremendous service to customers. Finally, business is a cobweb of human relationship.” – Henry Ross Perot

25.          “If you see a snake, just kill it. Don’t appoint a committee on snakes.” – Henry Ross Perot

  • Ted Turner   – CNN

26.          “Do something. Either lead, follow or get out of the way.” – Ted Turner

27.          “Managing isn’t that difficult, you just have to score more runs than the other guy.” – Ted Turner

  • Michael Dell – Dell Inc

28.          “Don’t spend so much time trying to choose the perfect opportunity, that you miss the right opportunity.” – Michael Dell

29.          “Recognize that there will be failures, and acknowledge that there will be obstacles. But you will learn from your mistakes and the mistakes of others, for there is very little learning in success.” – Michael Dell

  • Steve Jobs   – Apple Inc

30.          “Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It’s not about money. It’s about the people you have, how you’re led, and how much you get it.” – Steve Jobs

31.          “To turn really interesting ideas and fledging ideas into a company that can continue to innovate for years, it requires a lot of disciplines.” – Steve Jobs

  • Donald Trump   – Trump Organization

32.          “Experience taught me a few things. One is to listen to your gut no matter how good something sounds on paper. The second is that you are generally better off sticking with what you know and the third is that sometimes, your best investments are the ones you don’t make.” – Donald Trump

33.          “It pays to trust your instinct.” – Donald Trump

  • Jeff Bezos - Amazon

34.          “If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solve.” – Jeff Bezos

35.          “Things never go smoothly.” – Jeff Bezos

  • Sam Walton   – Wal-Mart

36.          “The secret of successful retailing is to give your customers what they want. And really, if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.” – Sam Walton

37.          “Appreciate everything your associates do for the business. If people believe in themselves, it’s amazing what they can accomplish.” – Sam Walton

  • J. K. Rowling – Harry Potter Series

38.          “Never be ashamed! There’s some who will hold it against you, but they are not worth bothering with.” – J. K. Rowling

39.          “Anything is possible if you’ve got enough nerve.” – J. K. Rowling

  • Ray Kroc    – McDonald’s

40.          “If you’re not a risk taker, you should get the hell out of business.” – Ray Kroc

41.          “When you’re green, you’re growing. When you’re ripe, you rot. Are you green and growing or ripe and rotting?” – Ray Kroc

  75 Impeccable Small Business Advice from 39 Billionaires

  • Mark Cuban   – Broadcast.com

42.          “Do your homework and know your business better than anyone. Otherwise, someone who knows more and works harder will kick your ass.” – Mark Cuban

43.          “Make your product easier to buy than your competition, or you will find your customers buying from them, not you.” – Mark Cuban

  • Larry Page   – Google

44.          “But you don’t need a huge company, just a computer and a part-time person. So you don’t need to have a 100-person company to develop that idea. You can do it in your spare time, you can really work on ideas and see if they take off — rather than trying to raise tons of money, millions of dollars for an idea that may or may not work. And once you have the product and people are using it, it’s very easy to raise investment.” – Larry Page

  • John Johnson    – Johnson Publishing

45.          “My management style is based on the art of communication. For communication is an art, not a science. It is an emotion, not a statistic. And the best communicators know instinctively that to communicate effectively you must bypass intellectual centers and tap into the deepest fears, hopes and emotions of your audience.” – John Johnson

46.          “I’m convinced that the only way to get ahead in this world is to live and sell dangerously. You’ve got to live beyond your means. You’ve got to commit yourself to an act or vision that pulls you further than you want to go and forces you to use your hidden strengths.” – John Johnson

  • Li Ka Shing   – Hutchison Whampoa

47.          “Broaden your vision, and maintain stability while advancing forward. That is my philosophy.” – Li Ka Shing

48.          “Businessmen must move with the times…the correlation between knowledge and business as the key to success is closer than ever.” – Li Ka Shing

  • Mukesh Ambani    – Reliance Group

49.          “I think that our fundamental belief is that for us, growth is a way of life and we have to grow at all times.” – Mukesh Ambani

50.          “The organizational architecture is really that a centipede walks on a hundred legs and one or two don’t count. So if I lose one or two legs, the process will go on and the growth will go on.” – Mukesh Ambani

  • Philip Knight   – Nike

51.          “Good campaigns define who you are. We have to get consumers’ attention. We don’t have six months to check with focus groups.” – Philip Knight

52           “Our job is to wake up the consumers. If we become predictable, that’s not waking them up.” – Philip Knight

  • Pierre Omidyar      – E-Bay

53.          “Build a platform – prepare for the unexpected…you’ll know you’re successful when the platform you’ve built serves you in unexpected ways.” – Pierre Omidyar

54.          “Be an enzyme – a catalyst for change. As a slogan, I don’t know if that’s ever going to be right up there with Ich Bin Ein Berliner, or “I Have A Dream,” but there’s a lot of truth to it.” – Pierre Omidyar

  • Ralph Lauren      – Polo

55.          “Your vision is very important. You should know whom you’re selling to, what your marketing and advertising says about you, and whom it’s speaking to. Me personally, I don’t try to please everyone. I understand who I am selling to and I work towards that vision all the time.” – Ralph Lauren

56.          “It’s about broadening your scope through history and living your life. Tune in and pay attention.” – Ralph Lauren

  • Rupert Murdoch    – Fox Broadcasting Corporation

57.          “In motivating people, you’ve got to engage their minds and their hearts. I motivate people, I hope, by example – and perhaps by excitement, by having productive ideas to make others feel involved.” – Rupert Murdoch

58.          “The world is changing very fast. Big will not beat small anymore; it will be the fast beating the slow.” – Rupert Murdoch

  • Craig Newmark      – Craiglist

59.          “Sometimes you gotta be fast so you don’t waste the time of others.” – Craig Newmark

60.          “Follow through with basic values, and remember to provide good customer service.” – Craig Newmark

  • Dave Thomas – Wendy’s

61.          “What do you need to start a business? Three simple things: know your product better than anyone. Know your customer, and have a burning desire to succeed.” – Dave Thomas

62.          “Take care of your business and your business will take care of you.” – Dave Thomas

  75 Impeccable Small Business Advice from 39 Billionaires

  • Gerry Schwartz     – Onex Corporation

63.          “We’ve got customers. We’ve got suppliers. We’ve got employees. We’ve got unions. We’ve got communities. We’ve got all of these things that go into making up whether a business succeeds or fails.” – Gerry Schwartz

64.          “Investments are like trains, and if you miss one, don’t worry because another one will come down the line.” – Gerry Schwartz

  • Walt Disney   - Disney

65.          “You are dead if you aim only for kids. Adults are only kids grown up, anyway.” – Walt Disney

66.          “Tomorrow can be a wonderful age.” – Walt Disney

  • Barry Diller   – Expedia

67.          “The world is changing. Networks without a specific branding strategy will be killed. I envision a world of highly run companies without room for all the overhead the establishment networks carry.” – Barry Diller

  • Giorgio Armani  – Armani

68.          “Remember that, in the end, the customer doesn’t know, or care, if you are small or large as an organization – she or he only focuses on the garment hanging on the rail in the store.” – Giorgio Armani

69.          “In this business you can’t have a destination, an arrival point. Otherwise your competitors will overtake you, or you become complacent.” – Giorgio Armani

  • Craig McCaw      – McCaw Cellular

70.          “Changes occur because there’s a gap between what is and what should be.” – Craig McCaw

71.          “Filling a need that others aren’t addressing has always been a focus of the companies that I have been involved with.” – Craig McCaw

  • Leslie Wexner   – Limited Brands

72.          “We are poised for accelerated future growth and we need the depth and breadth of leadership to achieve it.” – Leslie Wexner

73.          “Express is well into the process of substantial transformation and is providing itself as a significant dual gender, high quality apparel brand. While much work needs to be done, we believe the opportunities for growth across our brand are significant.” – Leslie Wexner

  • Carl Icahn   – Billionaire Investor

74.          “In life and business, there are two cardinal sins. The first is to act without thought and the second is not to act at all.” – Carl Icahn

75.          “You learn in this business; if you want a friend, get a dog.” – Carl Icahn

25 Top Internet Billionaire Entrepreneurs + Secret to their Success

Who are the 25 top internet billionaires in the world? What’s the secret to the success of the top internet entrepreneurs? How did they come about their wealth? How did they become billionaires? And how can you replicate their success strategies to become a millionaire or billionaire? You are going to find out soon.

In this article, I am going to list the top 25 internet billionaires and also highlight the secret to their success. But before I proceed, I want to emphasize the point that this article not focused on the wealth and net worth of the internet billionaires; rather, it’s more interested in the “how” of their success.

If you are more interested in knowing the estimated net worth of the internet billionaires; then Forbes magazine is the right place to go. But if you are interested in learning the exact step by step strategies that helped these internet entrepreneurs became billionaires; then please read on. Now who are the 25 top internet entrepreneurs  in the world?

   25 Top Internet Billionaires in the World

1.            Mark Zuckerberg –          Facebook

2.            Larry Page –       Google

3.            Steve Case –      AOL

4.            Jeff Bezos –        Amazon

5.            Reed Hastings –                Netflix

6.            Jerry Yang –        Yahoo!

7.            Craig Newmark –             Craiglist

8.            Pierre Omidyar –              Ebay

9.            Sergey Brin – Google

10.          Eric Schmidt – Google

11.          Masayoshi Son – Softbank

12.          Hiroshi Mikitani – Japan’s leading online shopping mall

13.          Charles Schwab – Online investing to the masses

14.          Ma Huateng – Runs China’s most popular online chat service

15.          Robin Li – Baidu

16.          Mark Cuban – Broadcast

17.          Andreas Von Bechtolsheim – Google Investor

18.          William Ding – China’s second largest online gaming site

19.          Shi Yuzhu – Giant Interactive

20.          Yoshikazu Tanaka – Gree

21.          David Filo – Yahoo!

22.          Marc Benioff – SalesForce

23.          Peter Thiel  - Facebook Investor

24.          Jack Ma – Alibaba

25.          Todd Wargner – Broadcast

Now that the 25 top internet billionaires in the world have been listed, I think it’s time we dig into the behind-the-scene secret to their success.

   25 Top Internet Entrepreneur Billionaires and the Secret to their Success

1.            They took advantage of trend

“There are no shortcuts. You have to work hard, and try to put yourself in a position where if luck strikes, you can see the opportunity and take advantage of it. I would also say it’s hard not to fool yourself. Everyone tells you how they are going to be “special,” but few do the work to get there. Do the work.” – Mark Cuban

The fist secret to the success of the internet billionaires was their preparedness and ability to take advantage of a moving business opportunity. The internet came as a trend and while most established business owners fought to resist its impact on their businesses; these internet billionaires embraced the internet and went about seeking ways to use it as leverage. The ability to take advantage of trend; the ability to accept change is the big difference between successful entrepreneurs and the average business owners.

“To truly prepare for the unexpected, you’ve got to position yourself to keep a couple of options open so when the door of opportunity opens, you’re close enough to squeeze through.” – Pierre Omidyar

2.            They started small

The 25 internet entrepreneurs listed above are billionaires by all standard but they were not so many years ago; and they did not become internet billionaires overnight, they started small. Most people admire entrepreneurs such as Mark Zuckerberg, Jeff Bezos and Larry Page but only few knew the starting point of these entrepreneurs.

“There are no shortcuts.” – Reed Hastings

One key to becoming a successful entrepreneur or business owner is the ability to start small. Most people dream big but only few are humble enough to start small. I think it’s worthwhile you know that Mark Zuckerberg, Larry Page, Jerry Yang, David Filo, Sergey Brin started their internet businesses from the dorm of their various schools; Jeff Bezos started Amazon from his garage.

“Most people think it’s all about the idea. It’s not. EVERYONE has ideas. The hard part is doing the homework to know if the idea could work in an industry, then doing the preparation to be able to execute on the idea.” – Mark Cuban

These internet billionaires did not sit on their business ideas and business plan; waiting for the million dollar investor. They started with what they’ve got on hand and kept it going till they hit fame and fortune. So if you must replicate the success strategies of these internet billionaires, then you must be willing to start small.

3.            They worked for free

“It’s not because of the amount of money. For me and my colleagues; the most important thing is that we create an open information flow for people. Having media corporations owned by conglomerates is not just an attractive idea to me.” –Mark Zuckerberg

Extraordinary success comes with extraordinary sacrifice. During the early startup years of these internet billionaires, they weren’t paid a dime. They worked for free developing their business ideas and even when their various companies was formed; they kept working for free.

What’s the lesson I am trying to stress here? The lesson I am emphasizing is that “delayed gratification is essential to becoming a billionaire and building a successful business; whether on the internet or offline.”

4.            They were innovative

I did a careful research and found out that the internet billionaires were not pioneers in their niche; they were late comers but they came with a competitive strategy, “innovation.” Google and Yahoo weren’t the first search engine; before them was ask.com.

“We are targeting innovation. We believe mobile applications are essential.” – Larry Page

Amazon wasn’t the first online bookstore; other small independent bookstores existed but Jeff Bezos used innovation as an edge to position Amazon as the world largest bookstore. Facebook wasn’t the first social networking site; MySpace was already on ground and successful but Mark Zuckerberg positioned Facebook using innovation as an edge.

The lesson here is that you don’t have to be the first to win; you don’t have to reinvent the wheel, all you have to do is improve on the present idea and you will have a winner on hand.

5.            They had a mission

“The thing I really care about is the mission; making the world open.” – Mark Zuckerberg

One of the reason the 25 internet entrepreneurs listed above became billionaires was because they had a mission; a mission to positively affect humanity. Why do you want to start a business? The answer to this question will determine if you’ll succeed or not.

“The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.” – Jeff Bezos

A business mission is essential to starting a business and growing a business because it helps you the entrepreneur maintain focus; it keeps you on course. Without a strong business mission; you might hit success but you can never sustain that success. MySpace went under because Facebook; its competitor had a stronger mission and that business mission became the driving force behind Facebook’s success.

“Basically, our goal is to organize the world’s information and to make it universally accessible and useful. That’s our mission. When we started, we had about 30 million Web pages, which was quite large for the time — that was two years ago. Now, we have well over a billion Web pages. So that gives you some idea of how we’ve grown in content. So we try to make more and more stuff available to people, we try to, when you come to Google, fulfill that need that you have as quickly as possible.” – Larry Page

6.            They served everyone for free

Have you ever been charged for doing a search on Google? Were you charged a subscription fee for your Yahoo, Google and Facebook account? The answer is no. The reason these internet billionaires became successful was because they served everyone for free. Mark Zuckerberg helped family and friends stay in touch without charging a dime. Google provides direction to vital information without charging a dime; Craiglist is also a free resource.

“If you want to be rich, simply serve more people.” – Rich Dad

Now what is the key point here? The key point for success here is to provide a valuable service to many people for free or a lot less than normal.

7.            They reinvested in their business

The last secret to the success of the internet billionaire was that they reinvested in their businesses. Jeff Bezos didn’t pay a dividend for five years; Larry Page and Sergey Brin worked their socks off without getting a dime. These internet entrepreneurs became billionaires because they reinvested not only the profits; but their time and resources.

Instead of taking a profit and throwing a party; they chose to stay committed and expand their business via strategic acquisitions. Re-investing in your business is essential to business growth and expansion.

As a final note, these are the top seven secrets to the success of the internet billionaires. Do you want to become an internet billionaire? All you have to do is to replicate these seven success secrets and I will see you at the top.

55 School Drop Out Billionaires and Successful Entrepreneurs

Do you feel dejected or left behind by your peers because you don’t have a college degree? Do you see your supposed illiteracy as a limitation to achieving your dreams? Or are you in the group that thinks education is the ultimate yardstick for success? If any of these questions best describes you, then please read on.

How does it sound to your ears that most of the world’s richest men and women were school drop outs? Well don’t be surprised; it’s the truth.

“I have nothing against education. But at times, education gives people false confidence. It makes people relax, trusting in the power of their certificates rather than in working hard.” – Rasaq Okoya

Today, I will be sharing with you a brief compilation of the entrepreneurial success stories of self made men and women; who took the bull by the horn by building a business, without being held back by the lack of a college degree. These men and women found their entrepreneurial spirit, surmounted business challenges, completed the entrepreneurial process and became successful entrepreneurs.

 “I have been within the four walls of school and I have been on the street. I can confidently tell you that the street is tougher, challenging, daring, exciting and more rewarding. In school; you play alone. But on the street, you play with the big boys.” – Ajaero Tony Martins

Warren Buffett, Mo Ibrahim, Mike Adenuga, Oprah Winfrey, George Soros, John D. Rockefeller, Sam Walton, Jerry Yang and David Filo, Anita Roddick, Sergey Brin and Larry Page, Jeff Bezos, Pierre Omidyar, Martha Stewart, Henry Ross Perot and Aliko Dangote; the richest black man in the world did not make the list because they possessed college degrees. Without wasting much of your time, below is a comprehensive list of some of the world’s richest school drop out billionaires.

“Behind every adversity is an opportunity. If you lament over the adversity, you will miss the opportunity.” – Ajaero Tony Martins

  The World’s Richest School Drop Out Billionaires

1.            Bill Gates: He is the billionaire co-founder of Microsoft Corporation, the world largest software company. Dropped out of Harvard to focus on building Microsoft. According to Forbes magazine, Bill Gates has held the position of the world richest man for thirteen consecutive years and he not showing a sign of letting go that position.

“To win big, you sometimes have to take big risks.” – Bill Gates

“We were young, but we had good advice good ideas and lots of enthusiasm.” – Bill Gates

2.            Thomas Edison: Thomas Edison was labeled dumb and scatterbrain by his school teachers but he went on to become one of the world’s greatest inventors and founded General Electric; one of the most powerful companies in the world.

 “Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison

3.            Orji Uzor Kalu: He is one of the richest men on the soil of Africa. This young billionaire was rusticated from college for his participation in a student’s protest. Instead of lamenting over his predicament; he started trading on palm oil and from that humble beginning, he grew his business into a conglomerate “Slok Group.” Though he was later pardoned by the school authorities, he rejected the amnesty offer thereby refusing to return to school.

“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere.” – Orji Uzor Kalu

4.            Li Ka Shing: Billionaire owner of Hutchinson Whampoa; one of the largest conglomerates in Hong Kong, with operations that span over fifty countries and more than 220,000 staff worldwide. Dropped out of school at the age of 15 and started out by selling watch bands.

“The first year, I didn’t have much capital so I did everything myself. I had to keep my overhead low by learning everything about running a business, from accounting to fixing the gears of my equipment. I really started from scratch.” – Li Ka Shing

5.            Richard Branson: Best known for his adventurous spirit and outrageous business tactics. He dropped out of school at the age of 16 to start his first successful business venture; Student Magazine, bought his own 79-acre Caribbean island when he was just 24 and he was knighted in 1999. He is the billionaire founder of the Virgin brand and its 360 companies. His companies include the famous Virgin Atlantic Airways.

 “I wanted to be an editor or journalist. I wasn’t really interested in becoming an entrepreneur, but I soon found I had to become an entrepreneur in order to keep my magazine going.” – Richard Branson

 Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

6.            Lawrence J. Ellison: Larry Ellison dropped out of college twice and was told by his adoptive father that he would never amount to anything but he went on to become a billionaire by building Oracle, the world’s second largest software company.

 “I have had all the disadvantages required for success.” – Larry Ellison

7.            Michael Dell: He dropped out of college at the age of 19 to start PC’s Limited; later renamed Dell Computers Inc. Dell became the most profitable PC manufacturer in the world making Michael Dell a billionaire.

    “I had to give it a full go and see what happened.” – Michael Dell

8.            Steve Jobs: Billionaire co-founder of Apple Inc and Pixar; dropped out of Reed College to start Apple.

9.            Henry Ford: This automobile billionaire was born in abject poverty. He never saw the four walls of school but he went on to build Ford Motor Company and become one of the richest men that ever lived.

 “Thinking is the hardest work to do, that’s why so few people are engaged in it.” – Henry Ford

10.          Walt Disney: Walt, regarded as the most influential animator because of his creativity with cartoons. He dropped out of high school at 16 and founded Walt Disney; a company which now has an annual revenue of about $30billion.

“If you can dream it, you can do it.” – Walt Disney

  Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

11.          Ray Kroc: Billionaire Ray Kroc never saw the four walls of school and spent most of his life working as a salesman. He bought McDonald’s in 1961 for $2.7m and grew it into a multi billion dollar company.

“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

12.          Debbi Fields: A 20 year old housewife with no education and business experience started Mrs. Fields Chocolate Chippery and became the most successful cookie company owner. She later renamed, franchised, and then sold Mrs. Field’s Cookies.

“You don’t have to be superhuman to do what you believe in.” – Debbi Fields

13.          Cosmos Maduka: Nigerian Elementary school drop out and billionaire founder of the Coscharis Group.

14.          Ingvar Kamprad: Billionaire founder of IKEA. He dropped out of high school at the age of 17 to start IKEA; now the top home furniture retailer in the world, with over 90,000 employees working in its 200-plus stores, and annual revenues in excess of $10 billion.

 “I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

15.          Carl Lindner: Billionaire investor and founder of United Dairy Farmers. He dropped out of high school at the age of 14 to deliver milk for his family diary.

                Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

16.          Simon Cowell: Famous for his involvement in American Idols, he dropped out of school at age 16 and started his own record label “Fanfare” at the age of 23.

“Good is not enough; you’ve got to be great.” – Simon Cowell

17.          Mary Kay Ash: Founder of Mary Kay Inc and best known as the most outstanding business woman in the 20th century. Mary never saw the four walls of school.

“When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure.” – Mary Kay Ash

18.          Coco Chanel: Fashion magnate and founder of the Coco Chanel brand, she never saw the four walls of school.

19.          Wayne Huizenga: Wayne is the only person in history to build three Fortune 1000 companies practically from scratch: Waste Management Inc, Blockbuster Entertainment and AutoNation. He is the only person to have developed six NYSE-listed companies.

He also owns the Miami Dolphins and is previous owner of the Florida Marlins baseball team and the Panthers hockey team, making him the only person ever to own three pro teams in a single market, two of which won national championships. He dropped out of college to join a friend in a garbage collection business.

20.          Barry Diller: This billionaire media magnate dropped out of college to start Fox Broadcasting Company. He is chairman of Expedia, and was once the CEO of IAC/InterActiveCorp which includes Home Shopping Network and Ticketmaster.

“There’s a world in which reasons are made up because reality is too painful.” – Barry Diller

21.          Andrew Carnegie: Founder of Carnegie Steel Company and one of the richest men that ever lived. Born in abject poverty, Andrew never saw the four walls of school.

“I shall argue that strong men conversely know when to compromise and that all principles can be compromised to serve a greater purpose.” – Andrew Carnegie

 Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

22.          Sir Philip Green: Billionaire retail mogul and owner of the Arcadia brand, he dropped out of school at the age of 16. After four business failures, Philip Green made his first million at the age of 33.

“If you’ve got a natural talent, I think it’s fantastic. If I wasn’t in retail, being a singer or a tennis player would be a better idea.” – Sir Philip Green

23.          Madame C. J. Walker: She was born into the family of ex-slaves and farmers. Despite being widowed at the age of 20 and faced with extreme hardship, she started a cosmetics business and went on to become the first American self made female millionaire.

“I had to make my own living and my own opportunity! But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them” – Madam C.J. Walker

24.          Mark Zuckerberg: The youngest billionaire in the world, dropped out of Harvard to promote his social networking platform; Facebook. As at 2010, he was 23 years and worth $4billion.

25.          Ted Turner: Billionaire drop out media mogul and founder of CNN; pledged a billion dollars to the United Nation.

“All my life, people have said that I wasn’t going to make it.” – Ted Turner

“Over a three year period, I gave away half of what I had. To be honest, my hands shook as I signed it away. I knew I was taking myself out of the race to be the richest man in the world.” – Ted Turner

26.          Cornelius Vanderbilt: Dropped out of school at the age of 11, began operating his own boat at the age of 16 and became one of the richest men in history.

 “If I had learned education, I would not have had time to learn anything else.” -  Cornelius Vanderbilt

27.          Mayer Amschel Rothschild: was born in a ghetto; started business as a money lender and built the largest private fortune in history. He never saw the four walls of school.

“Give me control over a nation’s money supply and I don’t care who make the laws.” – Mayer Amschel Rothschild

28.          Ty Warner: Billionaire real estate investor, hotel owner, sole owner, CEO, and Chairman of Ty, Inc. Ty Warner is a savvy, yet private business man. Ty, Inc; made $700 million in a single year with the Beanie Babies craze without spending money on advertising. He has since expanded to include Ty Girlz dolls, directly competing with Bratz dolls.

29.          Howard Hughes: Dropped out of California Institute of Technology and Rice University; founded Hughes Aircrafts and Co and went on to become a billionaire.

“I intend to be, the richest man in the world.” Howard Hughes

30.          Giorgio Armani: Billionaire founder of the fashion brand; Giorgio Armani S.P.A. Dropped out of medical school at the University of Bologna because he couldn’t stand the sight of blood.

“Remain true to yourself and your philosophy.” – Giorgio Armani

   Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

31.          Asa Candler: Founder of the Billionaire company and world’s most popular brand; Coca Cola. He dropped out of school at the age of 10.

32.          Jenny Craig: With no college degree, this woman started Jenny Craig Inc from scratch and grew it to become one of the largest and most recognized companies in the weight management industry.

“If I make a commitment to something, I will stick to it no matter what.” – Jenny Craig

33.          Rachael Ray: Despite having no formal training in culinary arts, Rachel Ray made a name for herself in the food industry. With numerous shows on the Food Network, a talk show and cookbooks, high-energy Rachael never slowed down. She has also appeared in magazines as well has having her own magazine debut in 2006.

34.          Milton Hershey: With only a fourth grade education, Milton Hershey started his own chocolate company. Hershey’s Milk Chocolate became the first nationally marketed chocolate.

35.          Frank Lloyd Wright: surpassed all odds to become the most influential architect of the twentieth century. Frank Lloyd Wright designed more than 1,100 projects with about half actually being built. He never saw the four walls of high school.

36.          David Geffen: billionaire founder of Geffen Records and co-founder of DreamWorks.

“I never went to business school. I was just bumbling through a lot of my life. I was like the guy behind the curtain in the Wizard of Oz.” – David Geffen

37.          Billy Joe (Red) McCombs: founder of Clear Channel media, real estate investor.

38.          Craig McCaw: billionaire founder of McCaw Cellular.

39.          Dave Thomas: billionaire founder of Wendy’s.

“There’s no one to stop you but yourself.” – Dave Thomas

40.          ay Van Andel: billionaire co-founder of Amway.

41.          Micky Jagtiani: billionaire retailer, Landmark International

42.          John Paul DeJoria: billionaire co-founder of John Paul Mitchell Systems and Patron Spirits tequilla.

43.          David Green: billionaire founder of Hobby Lobby.

44.          Frederick “Freddy” Laker: billionaire airline entrepreneur.

45.          Kirk Kerkorian: billionaire investor, owner of Mandalay Bay and Mirage Resorts, and MGM movie studio.

46.          Leandro Rizzuto: billionaire founder of Conair

47.          Leslie Wexner, billionaire founder of Limited Brands.

48.          Marc Rich: billionaire commodities investor and founder of Marc Rich & Co.

49.          S. Daniel Abraham: billionaire founder of Slim-Fast.

50.          Theodore Waitt: billionaire founder of Gateway Computers.

51.          Y.C. Wang: billionaire founder of Formosa Plastics.

52.          Paul Allen: billionaire co-founder of Microsoft Corporation; dropped out of Washington State University.

53.          Ralph Lauren: Billionaire fashion mogul. Studied business at Baruch College for two years and dropped out.

54.          Dean Kamen: Billionaire Kamen holds more than 80 US patents; famous for the Segwey PT, Auto syringe and IBOT robotic wheelchair; dropped out of Worcester Polytechnic.

55.          Dhirubhai Ambani: Famous founder of Reliance Group and father to two billionaires; Anil and Mukesh Ambani. Started Reliance Industries from scratch and never saw the four walls of school.

Why I want to become a billionaire

Sometime ago, I set a goal to become a billionaire in my life time and I provided a step by step plan for those who intend to attempt the feat. Since the publication of that article “How to Become a Billionaire”, I have received several emails with respect to that topic and with the response I got from the emails; I came to understand that single article has positively challenged the mindset of many.

However, there were a few who challenged my rationale for setting such goal and called me a dreamer. Some said I am being greedy, while others said people like me are the ones that exploit the poor to achieve our selfish ambitious. Well, this article is my response to these constructive criticisms.

I am not writing this to justify myself or convince you over to my side, I am writing this to share with you the “WHY” behind my goal to become a billionaire. If you have been a loyal reader of this blog, you will attest to the fact that I always emphasize the need to have a strong reason before pursuing any goal. I emphasize this because I have learned from experience that  your “why” for pursuing a goal or executing a task can be a driving force.

I have seen men break impossible barriers just to please their female counterparts. I have seen cowards summon extraordinary courage in the face of danger; just to save a loved one. I believe that these simple illustrations will further make you understand the need to always have a strong mission (WHY) for every thing you do in life.

Now why do I want to become a billionaire? Before I state my reasons for pursuing such goal, I want to emphasize that my reasons are clearly personal and are a reflection of my philosophy. Whether you accept or dispute them won’t make any difference and please; you are under no obligation to share my beliefs. Thanks.

                Why I want to Become a Billionaire

1.            I want to aim beyond my reality

Yes, this is my first reason for wanting to become a billionaire. I found out that I am quite comfortable with the goal to become a multi millionaire; so I kind of said; “why don’t I aim for something beyond my present reality” and that was how I came up with the goal. If I hit the goal, it’s going to be a feeling of self actualization on my part.

I have some notable entrepreneurs as my mentors and they are all big thinkers. I am talking about people such as Aliko Dangote, Donald Trump, Larry Ellison and Robert Kiyosaki. These men got to the level they are because they aimed beyond their reality. With lessons learned from these great entrepreneurs, I have refocused my perception to never accept anything average. Why settle for less when you can think big and go for it? I figured out that if I am going to attain the level of these great entrepreneurs; I must as well think big and that laid the foundation of my goal to become a billionaire.

2.            I want to touch lives

Before I explain this, I want to ask you this question. Have you ever felt the urge to help a dying soul but unfortunately, you couldn’t because you lack the financial resources? Well if you haven’t, I have and I can tell you that it’s a painful situation to be in.

Most people believe that the rich are greedy and evil but most good deeds are done by the rich; either secretly or publicly. All the poor and middle class do is complain and yearn for more; but the good rich guys get things done. Consider how Bill Gates is helping fight malaria in Africa through his foundation. Consider Ted Turner, who pledged a billion dollars to the United Nations. Consider the Ford foundation, Getty Foundation and others that distribute billions of dollars annually to different causes. And you will see why I want to be up there. I want to support causes that affect my conscience.

Secondly, I want to redistribute wealth. Have you ever seen a billionaire who got rich alone? I doubt it. Take a look at some of the world’s richest men and you will see that they have enriched others through their companies. Consider how many people have become rich by being attached to Microsoft; either as employees, partners, consultants or investors and you will understand what I mean. I also believe that the pursuit of my goal to become a billionaire will lead to the creation of jobs. Entrepreneurs such as Carlos Slim and Li Ka Shing each have a direct workforce of over 200,000 from different continents. Consider that.

Lastly, I want to be able to influence government’s policy for the good of the public. Now let me ask; how many people will it take to stage a protest and get the government’s attention? My answer is millions. But it will take just one rich man with millions of dollars in donation to influence any policy. Just consider how Roman Abramovich changed the fortune of Chukotka (Russia) for good and you will understand why it pays to be rich.

As a final note, I want to add that I am not pursuing this goal for the money; neither am I in it for the power. I set the goal to become a billionaire because of the challenge involved; the excitement, the highs and lows.  I believe this goal will keep me on edge; it’s going to keep my brains active because it’s a goal that requires continuous learning. What I don’t know is if I will achieve this billionaire goal but at least, it’s worth giving a shot. Even if I don’t hit the moon, I am sure to land among the stars.

The Richest African Billionaires (Entrepreneurs): Five Business Lessons I learned from them

Who are the richest African billionaires (entrepreneurs)? What’s the secret to the success of the richest billionaires in Africa? How did they make their money? Well, I will advice you read on.

In this article, I will be sharing with you the five business lessons I learned from the richest African billionaires. This article will strictly be focusing on the billionaire entrepreneurs in Africa; and the emphasis will be on the lessons learned including the secrets to their success.

If you are interested in their net worth or wealth value, then Forbes magazine is the best place to spend your time. But if you are more interested in the behind-the-scene secrets to the success of the richest African billionaires; if you want to know how they made it in the harsh business terrain of Africa, then read on as I share with you the five business lessons I learned from the richest billionaires in Africa.

    Who are the Richest African Billionaires?

The following entrepreneurs below have made it to the Forbes list of world richest billionaires at one time or the other. The lesson of this article is not in their amassed wealth so this list is in no particular order. The lesson lies in how they made it.

  The Richest Billionaires and Entrepreneurs in Africa

1.            Mo Ibrahim:       Sudanese billionaire and founder of Celtel

2.            Aliko Dangote:  Nigerian Billionaire and founder of Dangote Group. (Currently the richest black African; richest black man and the richest black person in the world as at 9th March 2011).

3.            Patrice Motsepe:             South African billionaire and founder of Africa Rainbow Minerals

4.            Mohammed Al Amoudi:                               Ethiopian Billionaire

5.            Mike Adenuga:                 Nigerian Billionaire and founder of Globacom, Conoil and ETB

6.            Femi Otedola:                   Founder of Zenon oil and gas (No longer on the list as at 2012)

7.            Nicky Oppenheimer:      South African billionaire

8.            Nassef Sawiris:                  Egyptian billionaire

9.            Johan Rupert:                    South African billionaire

10.          Naguib Sawiris:                 Egyptian Billionaire

11.          Onsi Sawiris:                       Egyptian billionaire

12.          Mohammed Mansour:                  Egyptian billionaire

13.          Yassen Mansour:             Egyptian billionaire

  5 Business Lessons I Learned from the Richest African Billionaires

Lesson one:        Problems are opportunities

The first business lesson I learn from the African billionaires is that problems are not what they seem to be. They’ve taught me that problems are simply opportunities in disguise. Africa is often regarded as the third world; a continent engulfed in strife, political poverty and corruption.

Yet, in the midst of all these; some men stood their ground and built wealth where the poverty level is rated high. What lesson does this entail? The lesson here is simple: people’s problems are simply avenue to generate wealth; if only you can position yourself as a problem solver. The billionaires in Africa listed above were critical problem solvers; and that was why they became billionaires.

                What is the Primary Duty of an Entrepreneur?

Mike Adenuga and Mo Ibrahim solved the telecommunication problem in Africa; Aliko Dangote provided the basic needs of Nigerians and Africans in general while Patrice Motsepe helped Africa maximize her potentials with respect to mineral resources. So regardless of your region or predicament; just focus on solving problems and you may join this list of richest Africans.

Lesson two:        Money is not seen with your eyes

The second lesson I learned from Africa’s richest billionaires is that money is not seen with your eyes. If money can be seen with the eyes; the world would probably be running down to Africa because of the potentials she holds; but unfortunately, money is not seen with the eyes.

While others see Africa as a poverty stricken continent; these billionaires saw the hidden potentials in Africa. While others were screaming “stay away from Africa”, these men stood their grounds and invested in Africa and that’s why they became billionaires. Once again, I restate the lesson; money is not seen with your eyes. You can only see money with your mind; that’s if your mind has been trained to spot business opportunities amongst problems.

Lesson three:    Concentrate on your strength

How do you become a billionaire? This is one question most people ask online. Well, there are several factors to becoming a billionaire and one of such factors is concentration. Take a close observation of the richest billionaires in Africa and you will note that they concentrated on their core strengths. They did not diversify their effort; they concentrated on what they know how to do best.

Aliko Dangote concentrated on commodities; Femi Otedola concentrated on diesel, Mo Ibrahim focused on telecom and Patrice Motsepe concentrated on mineral mining. So if you are going to achieve extraordinary success; if you want to build a success business empire, then you must learn to concentrate your efforts on your core.

Lesson four:       Understand your business to the core

Why did the richest billionaires in Africa concentrate on a core business? The answer is simple. They concentrated because on one line of business because they understood that line to the core. To build a success business, you must understand your business to the core; you must know its intricacies and numbers.

Lesson five:        Despise not the days of little beginning

This fifth lesson is actually a verse I extracted from the holy bible. I extracted it because it’s in line with the lesson I am trying to buttress. Of all the lessons I learned from the richest African billionaires; this is the most important. Despise not the days of little beginning.

Aside the Sawiris family who inherited their wealth; the remaining African billionaires did not attain wealth by sudden flight. They worked their way up from the scratch. This lesson is very important especially for aspiring entrepreneurs that want to start a business. Building a business is not a one hit affair; success in business comes in bits and little winnings. Overnight success will not happen; so forget it.

Aliko Dangote did not become the richest black man in the world overnight; it took him 30 years to achieve it. None of the richest men in Africa achieved wealth overnight; they amassed wealth in bits. So if you aspire to become a millionaire or billionaire; if you aspire to build a business conglomerate, then start small and stick to the entrepreneurial process. Remember, Rome was not built in a day.

As a final note, these are the five business lessons I learned from the richest billionaire entrepreneurs in Africa. Do you want to replicate their success; then adhere to these business lessons and I will see you at the top.

Mark Zuckerberg: Success Secrets of the World Youngest Billionaire

In the course of building a business; I have seen and learned a lot of things, and I am still in the learning process. Everyday, I come across tough, die hard entrepreneurs whose drive and achievements inspire me.

One of such inspiring entrepreneurs is Mark Zuckerberg; the youngest billionaire in the world. A lot have been said and written about this young billionaire entrepreneur but I am going to focus on his entrepreneurial achievements.

I saw how Mark Zuckerberg started from scratch and rose to become the youngest billionaire in the world all in a space of five years. Call him an accidental billionaire, a billionaire hacker or anything you like and you won’t be wrong but he definitely deserved his current status. Mark Zuckerberg is currently on our list of richest drop out billionaires but I don’t intend writing about his successes or fame.

Instead, I want to share with you lessons I picked up from the early years of Mark Zuckerberg; when he had nothing but a dream.  I think it’s worthwhile you quietly reflect on the entrepreneurial life of Mark Zuckerberg and learn from it.

Now how did Mark Zuckerberg develop the idea for FaceBook.com? How did Mark Zuckerberg rise from nothing to become the youngest billionaires in the world? What lessons can be drawn from the startup story of Mark Zuckerberg and his Facebook Company? If you are interested in the answer to any of the questions, then read on.

                How to Become a Self Made Billionaire

“It’s not because of the amount of money. For me and my colleagues; the most important thing is that we create an open information flow for people. Having media corporations owned by conglomerates is not just an attractive idea to me.” –Mark Zuckerberg

In this article, I will be sharing with you the success lessons I learned from this young billionaire; Mark Zuckerberg. I am not sharing this with you to thrill you but to challenge you to stick it through the entrepreneurial process. If you are ready to learn, then below are the secrets to the success of Mark Zuckerberg; the youngest billionaire in the world.

 Mark Zuckerberg: Success Secrets of the Youngest Billionaire in the World

1.            Have a Dream

Most people think that Mark Zuckerberg emerged from the blues to become a billionaire; they think he built Facebook with just a snap of fingers. The truth is they are wrong. Mark Zuckerberg was not an overnight success. His journey to fame and fortune began as a dream; a desire he was willing to sacrifice all for. That’s why Napoleon Hill said that “Desire is the starting point of all achievements.”

So if you want to replicate the success of Mark Zuckerberg; if you want to become rich and famous like him, it starts with your desire. What do you want from this life? Where do you want to be in the next ten years? What do you want to be remembered for after you bow your head to death?

2.            Think big

Facebook was a project on Mark Zuckerberg’s computer and he would have opted to sell it off back then but he refused. Why? He refused to sell it off because he wasn’t looking for a payoff; he wasn’t interested in a paid job, he was more interested in changing the world. Facebook was a small project but Mark Zuckerberg’s dream wasn’t a small one.

His friends envisioned Facebook as a college project; Mark Zuckerberg envisioned Facebook as a worldwide project that will change the way people communicate and stay in touch. People initially analyzed Facebook as a million dollar project but Mark Zuckerberg envisioned a billion dollar company.

What do you see in that small business idea of yours? Where do you see your company in the nearest future? Are you aspiring to build a million dollar company or a billion dollar company? Remember that success doesn’t just happen; it begins with strategic planning.

3.            Start small

Mark Zuckerberg had big dreams and wonderful plans. He envisioned a worldwide project that will be worth billions of dollars. Yet, he started small. He wasn’t discouraged by his humble beginning; he didn’t despise the days of little beginning. Instead of waiting for the million dollar funding or startup capital; he started from his dormitory with little capital and sweat equity. But today; he’s among the youngest billionaires in the world. Never be ashamed to start from the scratch because building a business from scratch is where the glory lies.

4.            Believe in yourself

Self belief is a prerequisite for successfully undertaking any venture and Mark Zuckerberg had lots of it. You can never build a successful business by thrusting responsibility to someone else. You have to believe that starting a business and growing such business can be done and you are the one to do it. Never look down on yourself; believe firmly in yourself and your God’s given ability and you will make it.

“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins

5.            Follow your passion

What are you passionate about? Are you prepared to stick to your passion? Are you willing to make sacrifices for your passion? These are the questions you must answer if you want to replicate the success of Mark Zuckerberg.

Mark Zuckerberg was a programming enthusiast from childhood and he stuck to that passion; despite the fact that it led him to break the rules, he stuck to it. Everyone loves the success story of Mark Zuckerberg but only few will ever give a thought to the fact that Mark Zuckerberg dropped out of college; just to make sure his passion never dies. That singular sacrifice alone enabled him make the list of the richest drop out billionaires in the world. Undying resolve is a key to building a billion dollar business from scratch.

   Mark Zuckerberg: Success Secrets of the Youngest Billionaire in the World

6.            Be prepared for criticism

“I just wish nobody made a film about me while I am still alive.” – Mark Zuckerberg

Just like every successful entrepreneur; Mark Zuckerberg has gotten his share of criticism. But he refused to be cowed by it. Criticism is a necessity on the road to the top so you must be prepared not only to accept it but also to leverage on it. Don’t let criticism hold you back; instead, use it as a stepping stone to greater heights.

7.            Be diligent

“I guess we could. If you look at how much of our page is taken up with ads compared to the average search query. The average for us is a little less than 10% of the pages and the average for search is about 20% taken up with ads. That’s the simplest thing we could do but we aren’t like that; we make enough money. Right, I mean we are keeping things running; we are growing at the rate we want to.” – Mark Zuckerberg

“See thou a man diligent in his business? He shall stand before kings; he shall not stand before vain men.” – Proverbs 22: 29

The message above is clear. Before the sweetness of success comes sweat. No man gets to the top with both hands in his pocket. All successful entrepreneurs and drop out billionaires earned their place through hard work; they toiled while others slept and that’s why they became successful.

8.            Don’t be afraid to dare the giants

Mark Zuckerberg wanted Facebook to be the heart of the internet but he had an obstacle; an unmovable well established giant and that giant is Google. Was Mark afraid to take Google head on? The answer is no. Sometimes, success can be found at the feet of the giants; in the den of lions and only the brave can go for it. That’s why courage is one of the characteristics possessed by successful entrepreneurs. Without courage, there will be no risk taking.

9.            Be focused

“The thing I really care about is the mission; making the world open.” – Mark Zuckerberg

Do you know the reason why Facebook was able to withstand Google? The answer is because Mark Zuckerberg focused on fulfilling Facebook’s mission. That’s why successful entrepreneurs such as Warren Buffett, Bill Gates and Andrew Carnegie repeatedly emphasized the need to concentrate. Diversified effort yield’s minimal results; concentrated effort yields maximum result. So concentrate.

“Concentrate your energy, your thoughts and your capital.” – Andrew Carnegie

10.          Learn to take risk

“Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine and eminently unsatisfying.” – J. Paul Getty

                “In today’s rapidly changing world, the people who are not taking risk are the risk takers.” – Robert Kiyosaki

No entrepreneur ever became successful without undertaking an atom of risk. Mark Zuckerberg also had his fair share of risk. When Mark Zuckerberg dropped out of college to focus on building Facebook; he took risk. By confronting Google; he took risk. Facebook itself was a risky venture that paid off immensely. Entrepreneurship is all about risk taking. Without risk, the world will remain stagnant.

 “Risk — If one has to jump a stream and knows how wide it is, he will not jump. If he doesn’t know how wide it is, he’ll jump and six times out of ten, he’ll make it.” – Anonymous

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

11.          Stick to the process

“In the game of entrepreneurship, the process is more important than the goal. When you start building a business, you begin a journey, a process. This process has a beginning and an ending and between the beginning and end lays a lot of challenges. You will win only if you remain faithful to the process.” -  Rich Dad

Starting the entrepreneurial process is one thing; sticking to the process is another. Facebook was not an overnight success; its success was achieved on installments. Mark Zuckerberg did not become a billionaire overnight; he worked it out for years and he is still working it out. That’s the spirit of entrepreneurship; the spirit of continuity.

“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

In conclusion; there’s nothing extraordinary about Mark Zuckerberg’s success. There’s nothing abnormal about his emergence as the youngest billionaire in the world. He deserves the position because he dreamed it, planned it and worked it out. He stuck to his passion and focused on fulfilling the Facebook mission; that was why he became the youngest billionaire in the world. His success has nothing to do with luck.

20 Top Best Business Schools in the World for Managers and CEOs

What is the best business school for managers and CEOs? There is a growing number of business schools sprouting up all over the world in a rather fast pace.  All of them guarantee prospect students’ success and expertise in advance business management techniques through their MBA, Executive MBA and doctoral programs.

Now why did I emphasize in the headline that the business schools listed here on this article is strictly for managers and CEOs? Well, I will tell you my reason.

The primary reason why I emphasized that the best business schools listed here is strictly for managers and CEOs because there are business schools for entrepreneurs and business schools for managers. I drew the line between entrepreneurs and managers because most students attend business schools to increase their salary potential and their marketability in the business world; nothing more, nothing less.

An effective business degree leads them to a wide range of employment opportunities they can pursue, which include finance services, sales and marketing, human resources and operations management, accountancy and consultancy services. But entrepreneurs attend a different kind of business school for a different reason which you can find out in the articles other articles i have written.

While it’s true that a business school degree advances your career and helps you earn more money, the key to a successful career in business still lies in finding the right business school; that’s if you intend being a manager. At a top business university, you will learn the art and science of business management and gain the skills you need to work in the corporate arena. It is a great place to find your niche.

Now how do you choose a business school that suits your need and budget? It’s quite interesting to know that different people attend business schools for different reasons; with different budget and needs. Some of those needs and factors people take into consideration before choosing a business school are:

7 factors to consider when choosing a business school

1.            Cost of studying

If budget is an issue, scout for a school with reasonable rates and which wouldn’t compromise the quality of education offered. A business school degree can cost you a lot of bucks, therefore cost should be carefully considered before applying.

2.            Programs offered

Does the business school/university offer the type of program you want? As stated earlier, there are different program varieties to choose from in business schools to date. A two-year MBA degree, for instance, can be crammed up in a single year depending on the institution.

3.            Admission system

Some universities have a really strict system of student selection. Their competitive application process makes make it hard for average students to get in. To calculate your chances; you can match your credentials (GPA, test scores, etc.) to the school’s requirements.

5.            Program curriculum

Most school curriculums encourage specializing in a single aspect of business. The recent education review, nevertheless, proposes a revision to this – an inclusion of special courses that would lead students to different fields of specialization. When you’re looking for advance studies, consider one that has an updated program curriculum.

6.            Teacher-student ratio

If you are looking for individualized attention, consider a school with relatively small class sizes.

7.            Institutional statistics

If you’re gunning to make it really big in the corporate world, choosing a school with remarkable placement statistics is imperative. Search through the records or ask around about the school’s reputation. Current students and alumni can give you a succinct background of the institution’s performance.

To determine which schools are the most reputable, the recent issue of Forbes magazine features an updated list of the best business schools in the world. It is the publication’s sixth biennial ranking of universities offering business-related courses based on company-administered surveys.  The instrument used ranks universities based on return of investment (compensation five years after graduation minus tuition and the forgone salary during school). Ranking is as follows:

 The 20 Top Best Business Schools in the World for Managers and CEOs

1.            Dartmouth (Tuck)

2.            Stanford

3.            Harvard

4.            Virginia (Darden)

5.            Pennsylvania (Wharton)

6.            Columbia

7.            Chicago

8.            Yale

9.            Northwestern (Kellogg)

10.          Cornell (Johnson)

11.          NYU (Stern)

12.          Duke (Fuqua)

13.          UC Berkeley (Haas)

14.          Texas-Austin (McCombs)

15.          UNC (Kenan-Flagler)

16.          Iowa (Tippie)

17.          MIT (Sloan)

18.          Brigham Young (Marriott)

19.          Michigan State (Broad)

20.          Carnegie Mellon (Tepper)

If you wish to learn more about the different business programs offered in each of these schools, there are many different degree search portals that are free to use online.

12 Famous Entrepreneurs and Business Role Models You can Draw Inspiration from

Do you have a role model? Who inspires you? When you find yourself in certain situations; who’s thinking pattern and strategy do you adopt? While I may not know your role models; I want to share mine with you.

I have several role models covering every field of life I have interest in but I will be limiting this article to just my entrepreneurial role models. I will be sharing in this article a list of entrepreneurs and business role models that inspire me the most. This list comprises of some successful entrepreneurs and drop out billionaires who are quite famous.

In addition to listing their names, I will also be highlighting the specific influence or impact they’ve had on my life. If you are an entrepreneur and you don’t have a role model; then I will advice you find one because your entrepreneurial role model can be a great source of inspiration.

 12 Famous Entrepreneurs and Business Role Models You can Draw Inspiration from

Before I proceed with the list of my entrepreneurial role models; I want to acknowledge the greatest entrepreneur I’ve ever known. This entrepreneur has been my greatest source of inspiration; this entrepreneur is no other person than my beloved mother, Angela Ajaero.

I once watched my mom’s retail store at Balogun, Lagos Island go up in flames and goods worth millions were destroyed by the inferno. I personally broke the news of the tragedy to her while she was chatting with a close friend; but all my mom did was smile. When I broke the news, I expected her to break down in tears so I prepared myself to comfort her but my mom surprised me; not a single tear dropped from her eyes.

Most importantly, my mom diligently and courageously started building a business again from scratch; I really admire the courage she put up in the face of adversity. Today, whenever I am faced with a business challenge or trouble; I simply close my eyes and remember the countenance of my mom the day I broke the news of the fire incident to her. Then I will say to myself; “if my mom who happens to be a woman didn’t break down in the face of adversity, why should I?

My mom experience and reaction to situations made her my greatest role model and source of inspiration. Now are there other entrepreneurs who I draw inspiration from? My answer is yes.

1.            Larry Ellison        – Oracle Corporation

I have tremendous respect for Larry Ellison and he has greatly influenced my life with respect to my goal getting attitude. Whenever I am in pursuit of a goal; I become Larry Ellison because I admire his ambitious spirit and I aspire to build up such level of go getting spirit.

“I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.” – Larry Ellison

2.            Andrew Carnegie             – Carnegie Steel

Reading the autobiography of Andrew Carnegie opened up my heart on the need to give back to the society. Andrew Carnegie was known for his philanthropic activities; he’s remembered as the man who gave all away to charity and I think I want to tow that line.

“I resolved to stop accumulating and begin the infinitely more serious and difficult task of wise distribution.” – Andrew Carnegie

3.            Mike Adenuga  – Globacom, Conoil, Equatorial Trust Bank

Mike Adenuga is a Nigerian billionaire but his humility overshadows his wealth. Nothing strikes my heart more than seeing someone influential and wealthy still bowing low. I have heard of the humility of Mike Adenuga but I made up my mind to be like him when I read in the papers that he once went on his knees and laid face down before someone he was far richer than.

4.            Ingvar Kamprad                – IKEA

To become a successful entrepreneur; you must have high self imposed standard and you must stick to it. This was exactly what I learned from Ingvar Kamprad; founder of IKEA. Ingvar Kamprad has been heavily criticized because of his reputation for “cautious spending.” Ingvar Kamprad is very cautious of the way he spends money despite the fact that he’s among the richest people in the world and I really respect that resolve. If you have a personal standard, stick to it no matter the criticism.

“I am stingy and I’m proud of the reputation.” – Ingvar Kamprad

“Waste of resources is a mortal sin at IKEA.” – Ingvar Kamprad

5.            Aliko Dangote    – Dangote Group

Aliko Dangote has always a role model that inspires my spirit. His strong business sense and his determination to support the economy of Nigeria earned him my respect. I also admire his drive and I look forward to replicating his achievements by aggressively investing in my country.

“I enjoy myself a lot but I derive more joy in working. I believe in hard work and one of my business success secrets is hard work. It’s hard to see a youth that will go to bed by 2am and wake up by 5am. I don’t rest until I achieve something.” – Aliko Dangote

6.            Richard Branson               – Virgin Group

I have been a long admirer of the Virgin Group but my contact with Richard Branson’s autobiography Losing My Virginity increased my respect for him. His competitive spirit and resilience inspires me to take on the giants unafraid.

“To be successful, you have to be out there, you have to hit the ground running, and if you have a good team around you and more than a fair share of luck, you might make something happen. But you certainly can’t guarantee it just by following someone else’s formula.” – Richard Branson

12 Famous Entrepreneurs and Business Role Models You can Draw Inspiration from

7.            Ray Kroc               – McDonald’s

In the business world, the name “Ray Kroc” is synonymous with persistence. With persistence, Ray Kroc built from a single stand to become the world’s most successful small business. Most times, I use Ray Kroc’s motto “press on” to stir my spirit to action and that’s why he’s on my list of role models.

“Press on; nothing in the world can take the place of persistence. Nothing is more common than unsuccessful men with talent. The world is full with educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

8.            Henry Ford         – Ford Motor Company

If there’s any reason why Henry Ford is on this list; it’s because he taught me how to fail without failing, he taught me that failure is just a resting place and he proved it by going from two major business failures to becoming one of the richest man in the world. So whenever I am on the verge of failure; I remember the lessons of Henry Ford and use it as an inspiration to stay afloat.

“Failure is just a resting place. It is an opportunity to begin again more intelligently.” – Henry Ford

9.            Robert Kiyosaki     – Rich Dad Company

I don’t think this list will be complete without Robert Kiyosaki; in fact, he is one of my most respected mentors. His teachings and ideas drove me into entrepreneurship; I became an entrepreneur after reading his book “Rich dad Poor Dad.” Today, I am financially literate, financially free and have a stronger control of my life. Thanks to Robert Kiyosaki’s teachings.

“People without financial knowledge, who take advice from financial experts are like lemmings simply following their leader. They race for the cliff and leap into the ocean of financial uncertainty, hoping to swim to the other side.” – Robert Kiyosaki

10.          J. Paul Getty       – Getty Oil

Entrepreneurship is all about risking your time, energy and resources on a venture with hope of a bigger reward. And there’s no other entrepreneur that emphasizes on the need for entrepreneurs to take risk than J. Paul Getty; the billionaire oil mogul.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

11.          Warren Buffett     – Berkshire Hathaway

In the world of business and investing, Warren Buffett happens to be one of the few personalities that have maintained a clean record and it caught my attention. Integrity is a rare character in life but Warren Buffett has maintained the standard and I aspire to be just like him; or even better.

“It takes 20 years to build a reputation and only five Minutes to ruin it. If you think about that, you will do things differently.” – Warren Buffett

As a final note, these are the 12 entrepreneurs and business role models I seek inspiration from; you can also do the same. Role models, mentors and coaches have a high influence on protégés so take advantage of the opportunity; find a good role model, aspire to be like him/her and I will see you at the top.

Eleven Business and Life Lessons from Carlos Slim Helu

As an entrepreneur and investor, I have other successful business mentors and investment gurus I look up to for guidance and inspiration. And one of such successful entrepreneurs is Carlos Slim Helu; the richest man in the world 2010 and one of the richest people in the world.

Over the years, I have quietly been understudying the life and business strategy of Carlos Slim Helu; and just when I was about to wrap up my findings and share with you the lessons I learned from this telecom billionaire, he appeared live on an interview with Larry King of CNN.

On Friday 3rd December 2010, as I watched the Carlos Slim Helu being interviewed by Larry King; my respect for him increased. Now based on the interview and personal findings from my research carried out; I will be sharing with you eleven business and life lessons I learned from Carlos Slim Helu, including a brief excerpt of his interview with Larry King.

So if you are ready to learn from the Mexican tycoon and billionaire; then sit back and read on as I share with you an excerpt of Carlos Slim Helu’s interview with Larry King and eleven business lessons I learned from it.

  Interview with Larry King: Eleven Business and Life Lessons I Learned from Carlos Slim Helu

Larry King: It’s an honor to welcome you to LARRY KING LIVE, Carlos Slim Helu. How did it feel when you were ranked number one?

Carlos Slim Helu: Thank you very much for your invitation Larry. Any kind of difference before, after, during, is not important; I think. What is important is what you are doing and how you are operating the company that you are managing and when you have many parts of the public investing in this company.

Larry King: So, it’s not a particular honor?

Carlos Slim Helu: No, no, no. it’s not championship. It’s the competence; the competence in your sector with other companies not looking to have some kind of records in this issue.

Larry King: When you topped the annual richest list back in March, they listed your net worth at $53.5 billion. Is that about right?

Carlos Slim Helu: I really don’t care about my ration. What they do is know how much share of the companies that we have investments and we are managing, and has the market price. The market price changes everyday, every time with a lot of volatility and you cannot make balance sheets of what is happening. What you are taking care is about the operation of the business, the investments of the companies; the technology you are using, the segment you are in and how you are managing the business.

Business lesson one:         Building a successful business is all about competence

Larry King: How do you stay on top of all that?

Carlos Slim Helu: Well, how can you be on top of the things you do? I think when you are involved in a business first of all; you need to know the business. After you know the business, you can let the numbers tell you what is happening. You can read with the numbers to know if things are going well or if things are not going well. You make co-operation with your competitors; you look at the international references to try to achieve the best reference nationally. The numbers talk to you.

Larry King: Were you also good with numbers?

Carlos Slim Helu: Yes, yes I think so. Some people are very good with letters and others have a good grasp of numbers. You can manage numbers in different ways; you read the numbers and you understand what is happening in the companies.

Business Lesson Two:       Understand your line of business and its numbers

Larry King: it’s estimated that you and your family control more than 200 companies. You are one of Mexico’s largest private employers. You are in control of so many things. Do you feel, Carlos; as I have gotten to know you? Do you feel enormous responsibility?

Carlos Slim Helu: Yes. I think that anything that has privileges has responsibility. All this is responsibility and compromise. Compromise and responsibility are not only for me and my family, but also the management team to have the responsibility to know the importance of what we are doing and that at the end of temporarily managing this; we don’t take anything when we pass away. And we do need to do business with a sense of responsibility.

Larry King: How many people currently work for you?

Carlos Slim Helu: well, I think we are around 250,000

Business Lesson Three:   Becoming a successful entrepreneur is all about responsibility

Larry King: Was your goal to make money? Is that your goal?

Carlos Slim Helu: I think it’s not a goal. Money is not a goal. The goal is to make companies grow, develop, be competitive, be in different areas, be efficient to have a great human team inside the company. Look for human development of the people of the companies because you cannot do anything without human capital, without your human team.

We are talking about how many people are with us but there are managers that are critical that began working in the company and grew with the company and develop to achieve success being in high level management position. And now the goal is well by one side, I think the wealth should be reinvested to create more wealth. The fruit of wealth is income and it is important to develop the distribution of income. The distribution of income comes mainly by employment and second, by the money that goes to the government.

Business Lesson Four:      Be driven by passion; not money

Larry King: Carlos Slim Helu owns one of the oldest hotels in Mexico, Hotel Genève but the empire is in the telecommunications company; Telmex, which he acquired in 1990 when Mexico began privatizing its national industries. A decade later, he spun off the cell phone business, American mobile and it’s one of the largest companies in all of Latin America. He also owns Sunborn, Mexico’s major retail outlet and biggest restaurant chain. His interest includes one of Mexico’s most important banks, airline, a mining company, hotels, construction, insurance companies, a bottling company, cigarette manufacturer, much real estate and on and on and on.

Larry King: Are you always looking to acquire?

Carlos Slim Helu: In 1965 when I began, I had a soft drink bottling company. We are not in the bottling business anymore. We sold the tobacco business also to our partners. We are concentrating because during these 45 years and depending on the circumstances we were involved; we have the possibilities to buy some business. With time, we thought we were focusing a little more on what we thought had more important potential and development and needed more investments and management.

Business Lesson Five:       Concentrate; be focused

Carlos Slim Helu: In ’82, there was a big crisis in Mexico and that meant that nobody was investing. And we invested in paper; we invested in tyres for cars, we invested in auto parts and aluminum and copper combustion. Actually we were focusing. We sold a corporation, we sold a tile business we bought in ’82 also; both of them. We were focusing in telecommunication, financing and mining, retail.

Business Lesson Six:           Get in when others are getting out

Business Lesson Seven:  Always be prepared to make your big move

Larry King: You are very involved in the education of the people, I know because I spoke to all those students. You give scholarships every year, right?

Carlos Slim Helu: Yes.

Larry King: How much do you devote to charity?

Carlos Slim Helu: well we make it, not talking about a budget and say well; this year we will invest $100 or $100 million. We try to find which are the problems that we need to attack and then we put all the money that is necessary. We also have programmes and we put in these programmes and all that are necessary. Let’s say in the surgery, we do surgery around the country. We began with 2000 a few years ago, now we are doing 120,000.

Business Lesson Eight:     Give back to the society

Larry King: Was there early in life, a big event that happened to you that turned you from a millionaire to billionaire? Was there a major occurrence?

Carlos Slim Helu: I think work, investments and reinvestments. My father used to say that the money that gets out of a company evaporates. That means he was thinking in terms of investments and reinvestment and reinvestment. That is one of the things we do. Other things that we do are in good times, we maintain our winning streak. When we do profitable business, we don’t get crazy; putting expenses all around or making fancy things. Then, we didn’t have corporate offices until now. We used to have them in the factories. The offices of the company were in the factories, not in another corporate building. I think it’s the way it happened.

Business Lesson Nine:      Watch your expenses

Business Lesson Ten:         Reinvest, Reinvest, Reinvest

Larry King: Is it hard for you to see all the poverty in Mexico?

Carlos Slim Helu: It’s hard but I am convinced that all this poverty in Mexico and in Latin America, like it’s happening in China is the opportunity to grow. It’s an opportunity for investment; it’s an economic activity and to take out poverty is the best investment any person or a person can do in any place because poverty used to be an ethical issue, used to be a social justice but now it’s an economic need. You need to integrate these people that are marginal and are in poverty; you need to integrate them into modernity.

Business Lesson Eleven:                See opportunities, not problems

As a final note, I hereby end my excerpt on the interview between Larry King and Carlos Slim Helu. I believe you have learned something from the life of this billionaire and I also hope that the business lessons I extracted will prove useful to you. Before I drop my pen, below is a quick recap of the eleven business lessons I learned from the Mexican telecom billionaire; Carlos Slim Helu.

  1. Building a business is all about competence
  2. Understand your line of business and its numbers
  3. Becoming a successful entrepreneur is all about responsibility
  4. Be driven by passion; not money
  5. Concentrate; be focused
  6. Get in when others are getting out
  7. Always be prepared to make your big move
  8. Give back to the society
  9. Watch your expenses
  10. Reinvest, reinvest, reinvest
  11. See opportunities; not problems